Needless to say, Elon Musk is quite a business magnate. The founder of SpaceX, CEO of Tesla, and co-founder of Neuralink is followed by scores of people online and they definitely take his word very damn seriously.
That’s why when he recently responded to a tweet affirming the impending downfall of cryptocurrency, Bitcoin, its price immediately took a huge plunge.
Responding to a tweet that claimed that ‘bitcoin holders are going to slap themselves next quarter when they find out Tesla dumped the rest of their bitcoin holdings’, the CEO of Tesla tweeted, ‘Indeed’.
Indeed
— Elon Musk (@elonmusk) May 16, 2021
Well, his one word was enough to crash-dive the price of the cryptocurrency by 20%, reported The Indian Express.
Bitcoin is down 20% since @ElonMusk started shitposting.
And you wonder why some people are mad? 🤔 pic.twitter.com/WDMvcptFsK
— Bitcoin Archive 🗄🚀🌔 (@BTC_Archive) May 16, 2021
Even though Musk is a huge advocator of cryptocurrency, he, in his earlier tweets clarified that Tesla has suspended vehicle purchases using Bitcoin in a bid to protect the environment. And immediately after that tweet, the cryptocurrency had dropped by almost 15%.
To be clear, I strongly believe in crypto, but it can’t drive a massive increase in fossil fuel use, especially coal
— Elon Musk (@elonmusk) May 13, 2021
Tesla & Bitcoin pic.twitter.com/YSswJmVZhP
— Elon Musk (@elonmusk) May 12, 2021
FYI, his company had earlier reportedly announced that it had purchased billions in Bitcoin and planned to accept it as payment.
Elon’s tweets clearly have a huge impact on the cryptocurrency market. Therefore, the immediate fluctuations inspired people to share memes and jokes on it.
#bitcoin rn
thanks @elonmusk! pic.twitter.com/9Vf91KI47w— kevin fernandes (@myselfkev_in) May 17, 2021
Everytime I see a notification on my phone that #ElonMusk tweeted again. #Bitcoin pic.twitter.com/3CApENB48v
— Bitcoin Armada (@BitcoinArmada) May 17, 2021
This is so funny 😂 #elon pic.twitter.com/ZYy5frS7z2
— 👑Boss Lady👑 Tekstoreng (@barliqees) May 16, 2021
.@elonmusk tested the #Bitcoin immune system this weekend.
Yup, Working just fine ✅ pic.twitter.com/Z1vVN5Zi14— RD ₿TC 🟩 (@RD_btc) May 17, 2021
#Bitcoin traders and @elonmusk relationship in the past few days is complicated
😂😂😂😂😂 pic.twitter.com/Jngl68KG58
— DesiCryptoGirl (@DesiCryptoGirl1) May 17, 2021
Karen, get out of this body, it doesn't belong to you! #elonmusk #Bitcoin pic.twitter.com/AfBQCY5TWP
— Cryptolina (@Cryptolina2) May 17, 2021
He is inevitable…#Bitcoin #ElonMusk pic.twitter.com/MuId3wTEyp
— Bitcoin Armada (@BitcoinArmada) May 17, 2021
@elonmusk Is Harshad Mehta Of #Crypto !#cryptocurrency #Bitcoin #BinanceSmartChain Elon #Cricket #ElonMusk #elon #NFTCommunity #nftart #nftcollectors #NFTcollectibles pic.twitter.com/gPdd5zuTdm
— Tek Tonic India (@ApplotC) May 17, 2021
Right, what’s going on here then? #elon #btc #Ethereum pic.twitter.com/F68PmwDUer
— yasser_jin (@yasser_jin) May 16, 2021
When someone asked me about my HODL journey so far. #Bitcoin #Elon pic.twitter.com/g0dha81TSU
— 𝐊𝐢𝐧𝐠 𝐀𝐡𝐦 𝐉𝐫.🌪 (@King_ahm_jr) May 13, 2021
However, Musk later in his tweet clarified that Tesla has not sold any Bitcoins yet.
To clarify speculation, Tesla has not sold any Bitcoin
— Elon Musk (@elonmusk) May 17, 2021
Seems like Musk has been subconsciously manipulating the market value of Bitcoin. What do you think?